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    ealvarez's Avatar
    ealvarez Posts: 1, Reputation: 1
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    #1

    Jul 16, 2007, 01:42 PM
    Managerial accounting
    Hi,
    Payment of cash for production workers' wages is an asset exchange transcation.

    Is this correct? Please help!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jul 16, 2007, 03:21 PM
    No it is not.

    You would Debit an Expense (income statement account) and credit cash (a balance sheet/asset account)
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